Nashville gas prices surge after Iran strikes

By the numbers: Average gas prices in Nashville hit $3.01 on Sunday.

• In December, prices hit a low point of $2.58.

Yes, but: Nashville's rate remains below the national average of $3.45.

The big picture: Gas prices spiked dramatically last week following upheaval in the Middle East.

• March 3 was the biggest single-day spike since 2022, according to GasBuddy analyst Patrick De Haan.

Between the lines: Tom Kloza, a longtime oil analyst now working for Gulf Oil, tells Axios he expects the national average price to reach as high as $3.50 in the coming weeks.

• That stems from a sudden increase in petroleum prices as traders fear disruption in crude supplies from the Middle East.

The latest: Oil prices climbed above $100 per barrel yesterday for the first time since 2022.

Go deeper: Gas prices see biggest single-day spike in 3 years as Iran war jolts market